SeaPRwire

US asks Tesla to recall 158,000 vehicles for touchscreen failures

elean 14 1 月

3 minutes

WASHINGTON (REUTERS) - The US National Highway Traffic Safety Administration (NHTSA) on Wednesday (Jan 13) asked Tesla to recall 158,000 Model S and Model X vehicles over media control unit (MCU) failures that could pose safety risks by leading to touchscreen displays not working. The auto safety agency made the unusual request in a formal letter to Tesla after upgrading a safety probe in November, saying it had tentatively concluded the 2012-2018 Model S and 2016-2018 Model X vehicles "contain a defect related to motor vehicle safety." Tesla did not immediately respond to a request for comment but it must respond to NHTSA by Jan 27. If it does not agree it must provide the agency "with a full explanation of its decision." It is unusual for the agency to formally demand a recall. Automakers typically voluntarily agree to a recall if sought in discussions by regulators. The agency said it sought the recall after considering "Tesla's technical briefing presentation ... and evaluated Tesla's assertions." NHTSA added that "during our review of the data, Tesla provided confirmation that all units will inevitably fail given the memory device's finite storage capacity." NHTSA said other a...

StanChart’s Singapore-based investment banking head is top CEO contender: FT

elean 14 1 月

2 minutes

LONDON (REUTERS) - Standard Chartered's investment banking head Simon Cooper has emerged as the internal contender to replace chief executive officer Bill Winters, the Financial Times reported on Wednesday (Jan 13), citing people familiar with the matter. Mr Cooper is now the "heir apparent" after the outperformance of his advisory and trading unit last year during the Covid-19 pandemic, the report said. Standard Chartered declined to comment on the report. Mr Cooper, who is currently based in Singapore, may be returning to the bank's headquarters in London, the FT reported, adding that there have been informal discussions about naming him as deputy CEO. The report said the bank's chairman Jose Vinals is also considering external candidates for when Mr Winters eventually departs and that the board is conducting its normal "market-mapping" exercise to monitor all potential options. Mr Winters, who is a former JPMorgan banker, won plaudits from investors during his first three years at the lender from 2015 to 2018 when he repaired its balance sheet and overhauled its lending culture. Mr Cooper joined Standard Chartered Group as CEO of its corporate & institutional banking division in...

GIC-backed lender Affirm almost doubles in debut after $1.59 billion IPO

elean 14 1 月

3 minutes

NEW YORK (Bloomberg) - Affirm Holdings almost doubled in its public market debut, the latest multibillion-dollar technology company to start trading significantly higher than its initial public offering price. Shares of the San Francisco-based company, which provides installment loans to online shoppers, closed up 98 per cent to US$97.24 in New York trading after rising as much as 110 per cent earlier on Wednesday (Jan 13). The company sold 24.6 million shares at US$49 each in Tuesday's IPO to raise US$1.2 billion (S$1.59 billion), pricing the stock above a range that had already been increased. Affirm closed Wednesday with a market value of more than US$23 billion. The company has a fully diluted valuation of almost US$30 billion, including options and restricted stock units, according to Bloomberg calculations. Airbnb and DoorDash each soared above their IPO prices when they went public in December, showing the appetite for tech listings - especially among retail investors -- and raising questions about how the deals were priced. Airbnb currently trades about 150 per cent higher than its listing at a market value of more than US$100 billion, while DoorDash is up about 94 per cent...

US Q1 budget deficit surges to record US$573 billion amid pandemic

elean 14 1 月

2 minutes

WASHINGTON (AFP) - As spending remained high amid the coronavirus pandemic, the US budget deficit surged by 61 per cent in the first three months of the 2021 fiscal year, the Treasury Department said on Wednesday (Jan 13). Spending compared to the prior year grew by US$213 billion (S$282.6 billion) from October to December, driving the budget gap to US$573 billion and setting quarterly records, a senior Treasury official told reporters. The deficit for the 2020 fiscal year exploded, jumping more than 200 per cent to an all-time high of US$3.1 trillion, which was more than double the prior record. The first quarter pace will keep the deficit well below that level in the future, but President-elect Joe Biden has pledged to push for trillions of dollars in new measures to help struggling families and boost the economy. US government expenditures increased last year due to the mammoth programs Congress approved to help workers and businesses hit by the Covid-19 shutdowns. However, spending tapered later in the year as some programs lapsed while lawmakers worked to pass a new relief package, and the Treasury official said the impact of a US$900 billion measure approved December 27 will ...

Sea acquires Indonesian bank to gain fintech foothold

elean 14 1 月

2 minutes

SINGAPORE (BLOOMBERG) - Singapore's Sea Ltd, the tech start-up that's become South-east Asia's most valuable company, has acquired Indonesia's Bank Kesejahteraan Ekonomi, according to people familiar with the matter. Sea has gained full control of the Jakarta-based lender, better known as Bank BKE, after buying stakes from existing shareholders Danadipa Artha Indonesia and Koin Investama Nusantara through its subsidiary Turbo Cash Hong Kong, said the people who asked not to be named as the matter is private. The move accelerates the company's ambition to establish itself as a leader in financial technology and services across its region, much as it has done with mobile gaming and online shopping. Sea raised almost US$3 billion (S$3.98 billion) in a stock offering last month, saying it intends to spend the proceeds on business expansion. Representatives of Sea and Bank BKE declined to comment. Bank BKE began operations in 1992 with the primary goal of supporting the welfare of civil servants, according to its website. South-east Asia's biggest internet companies are all vying for a share of a growing digital banking arena. Sea secured a licence to open a digital bank in Singapore in...

WHO team to fly from S’pore to Wuhan today

aseanpr 14 1 月

2 minutes

A World Health Organisation (WHO) team of international experts is due to depart Singapore today for the Chinese city of Wuhan, a spokesman for the Ministry of Foreign Affairs (MFA) said yesterday. The team is investigating the origins of the coronavirus, which was first detected in the central city of Wuhan in late 2019. On Tuesday, Chinese Foreign Ministry spokesman Zhao Lijian had told a regular news briefing in Beijing that the team was due to arrive in Wuhan today from Singapore. In response to queries, the Singapore MFA spokesman said: "We note that the PRC (People's Republic of China) MFA has mentioned at its press conference on Jan 12 that the World Health Organisation international mission to investigate the zoonotic origin of Sars-CoV-2 would fly from Singapore to Wuhan on Jan 14. "As a member of the WHO and a friend of both China and the WHO, Singapore is happy to play our part by facilitating the transit of the members of the WHO's international field mission. "The international mission is mandated by a World Health Assembly Resolution co-sponsored by more than 130 countries, including Singapore and China. "We have maintained Changi Airport as a transit hub and implemen...

Registration for MOE kindergartens to open in February

aseanpr 13 1 月

2 minutes

SINGAPORE - Registration for the 2022 school year at 43 Ministry of Education (MOE) kindergartens will open from 9am on Feb 5 to 4pm on Feb 9, said MOE on Wednesday (Jan 13). There were 29MOE kindergartens in 2019 and 36 last year. The Education ministry aims to be operating at least 60 kindergartens by 2025. Registration is open to Singapore citizens and permanent residents born between Jan 2 2017 and Jan 1 2018. It will be carried out online at the MOE kindergarten website (www.moe.gov.sg/mk). Results will be released on Mar 31. To disseminate information to parents amid Covid-19 restrictions, MOE will be holding a centralised virtual open house for the kindergartens through Zoom on Jan 30, from 10am to 1pm. "Interested parents will have the opportunity to learn more about MOE kindergarten's curriculum, programme, facilities and other offerings before selecting their preferred kindergarten," said MOE in its Wednesday statement. Sign-ups for the open house are open until Jan 28 at: https://form.gov.sg/#!/5fcf3558454d0100111ab591 MOE has emphasised that the three major mother tongue languages - Chinese, Malay and Tamil - are offered at these kindergartens. "All MOE kindergartens of...

Hospital employee sentenced to 3 months’ jail for molesting colleague at workplace

aseanpr 13 1 月

3 minutes

SINGAPORE - While watching a movie together on a computer screen at their workplace, a male hospital employee molested his female colleague. When the 20-year-old woman pushed the offender's hand away, he locked the main door to the room and continued to touch her inappropriately. On Wednesday (Jan 13), the 34-year-old Singaporean was sentenced to three months' jail after pleading guilty to one count of molestation. Details about his identity, workplace and occupation cannot be revealed owing to a gag order to protect the victim's identity. The pair were at their workplace at around 1pm on July 23, 2016 when they decided to watch a movie together. To do that, the man turned off the lights in the room. Deputy Public Prosecutor Emily Koh said: "While they were watching the movie, the accused held the victim's hand and rubbed her hand with his hand. "The accused then let go of her hand and placed one of his hands onto the victim's stomach, over her T-shirt. The victim pushed his hand away." Undeterred, the man touched her again. When she pushed his hand away, he got up, locked the door and returned to sit beside her. The court heard that he then molested the woman again. "The victim tr...

HDB launches flat portal; includes new flat listings, financial calculators and loans information

aseanpr 13 1 月

2 minutes

SINGAPORE - Those hunting for a new home can now get pricing and loan information of Housing Board (HDB) flats on a new platform which aims to streamline the process of buying and selling a place. The portal, which is being progressively rolled out from Wednesday (Jan 13), consolidates information on current and upcoming flats sold directly by the HDB, said National Development Minister Desmond Lee in a Facebook post. He added that it may include HDB resale flat listings in subsequent phases. The portal includes customised financial calculators as well as information on housing loans provided by the HDB and various participating banks. Buyers can use the calculators to estimate their housing budget, to help them compare their housing options, said Mr Lee. Those planning to sell their flats for now can tap the calculators to estimate their sales proceeds, which also take into account monies which have to be returned to their Central Provident Fund. They will also be able to view past transactions around their estate. "This new portal will make it more convenient for home buyers and sellers to gather information on the purchase or sale of a flat through a single integrated platform,"...

Singapore, Malaysia to work closely to keep supply chains going amid state of emergency: Chan Chun Sing

aseanpr 13 1 月

2 minutes

SINGAPORE - Singapore and Malaysia will continue to work closely to keep supply chains going amid the movement control restrictions and state of emergency declared in Malaysia, said Minister for Trade and Industry Chan Chun Sing on Wednesday (Jan 13). Mr Chan was speaking to reporters during a visit to speciality chemicals company DuPont Singapore. When asked about the latest developments in Malaysia and whether it would affect Singapore's supply chain, he said: "We are in close contact with our Malaysian counterparts regarding the latest movement control, and also the state of emergency. "I've exchanged texts with my counterparts and I think we have shared our commitment to make sure that we continue to keep our trade flows going, keep our supply chains going, to the benefit of both countries." Mr Chan added that over the last few days, Singapore's supplies and trade flows with Malaysia have continued "as per normal". He added that since the onset of the Covid-19 pandemic, Singapore has been preparing itself for potential disruptions to its supplies and supply chains by diversifying the latter, and also by stockpiling and stepping up local production where possible. These disrupti...

Skill up to step up: Switching careers from teaching to IT engineering

aseanpr 13 1 月

6 minutes

SINGAPORE - During his years as a secondary school teacher, Mr Kenneth Chua frequently spoke to his students about the joys of learning, the importance of upskilling, and the value of resilience. In 2019, after 10 years of teaching, he realised that "he had not been walking the talk", that he was not fulfilling his potential and that he could learn more and grow further. The 38-year-old decided to leave his job at the end of that year and pick up new skills. Last March, he enrolled for an immersive software engineering course at coding school General Assembly. This was under the Tech Immersion and Placement Programme (TIPP), an initiative by the Infocomm and Media Development Authority of Singapore to build tech talent. The 12-week course taught Mr Chua skills such as website development and equipped him with fundamental programming and computer science knowledge. It cost him $5,550, after a $9,100 TIPP subsidy. He is now five months into a new job as a systems quality assurance engineer for e-commerce platform Shopee. In his teaching career, Mr Chua taught computer applications for Normal (Technical) students and mathematics. He was at Bartley Secondary School from 2009 to 2014 an...

South Korea’s jobless rate hits 10-year high as Covid-19 cases surge

elean 13 1 月

2 minutes

SEOUL (BLOOMBERG) - South Korea's jobless rate hit a 10-year high in December as the country's worst coronavirus outbreak forced businesses to slash hiring. The unemployment rate reached 4.6 per cent last month, data from the statistical office showed on Wednesday (Jan 13). Economists had forecast the reading to be unchanged from November's 4.1 per cent. The nation shed 628,000 jobs compared with the prior year, the largest losses since the start of the pandemic and a tenth straight month of declining employment. The job losses and elevated unemployment rate highlight the impact of tightened social distancing rules as South Korea's daily infection tally surged to beyond 1,000 last month. The shutdown of high-risk facilities such as karaoke parlors and a shortening of business hours for most shops have hurt service sector jobs. To ease the pain, the government plans to give cash handouts worth 4.6 trillion won (S$5.56 billion) to millions of South Koreans before the Lunar New Year holiday next month and front-load its fiscal spending in the first half of the year. South Korea's ongoing recovery in exports has supported the broader economy, but the job market outlook depends on a suc...

Lucasfilm to sell Sandcrawler building in Singapore for $175 million to US firm

elean 13 1 月

2 minutes

SINGAPORE (BLOOMBERG) - Blackstone Group is looking to purchase Lucasfilm's state-of-the art facility, The Sandcrawler, named for the classic Star Wars transport that inspired its design. The US private equity giant has started the process of buying the building for about $175 million, according to people familiar with the matter. The sale is pending regulatory approval. The move signals Singapore's property assets continue to be attractive to foreign investors, who see the city's political, financial and legal stability as an advantage. Other American companies including Amazon.com and Facebook are also expanding their presence, while China's tech behemoths such as Tencent Holdings and ByteDance are looking to make Singapore a beachhead for South-east Asia. The Sandcrawler, located at Fusionopolis tech park in one-north district, has eight floors of office space. The 22,000 square metre facility also includes a retail shopping area, a 100-seat theatre, lush gardens and a Yoda fountain. The futuristic-looking, horseshoe-shaped building is modeled after the Sandcrawler, the fictional huge mobile fortresses featured in the Star Wars films. It houses Industrial Light & Magic Singapore...

US stocks gain with oil, airline shares leading

elean 13 1 月

2 minutes

NEW YORK (AFP) - Equities tied to the US economic recovery led stocks higher on Tuesday (Jan 12) as markets bet on more government stimulus and coronavirus vaccines in 2021. Petroleum-linked shares were winners, along with airlines, retailers and infrastructure as investors anticipate gains for beaten-down sectors that have suffered during Covid-19. "I do believe there's going to be a pretty strong recovery driven by stimulus infrastructure spending, now that you have a Democrat controlled government," said Shawn Cruz of TD Ameritrade. "It will make it easier to get some of those probably larger stimulus Bills through." The Dow Jones Industrial Average finished up 0.2 per cent at 31,068.69. The broad-based S&P 500 climbed less than 0.1 per cent to 3,801.19, while the tech-rich Nasdaq Composite Index advanced 0.3 per cent to 13,072.43. The gains came after US equities pulled back on Monday over fears of more unrest after a mob of President Donald Trump's supporters last week attacked the Capitol in an unsuccessful effort to block certification of Joe Biden's victory in the November elections. Petroleum producer Apache surged 11.2 per cent, while United Airlines won 3.2 per cent and ...

Cutting off Parler reveals Amazon’s Net clout

elean 13 1 月

3 minutes

NEW YORK • The decision by Amazon.com's cloud unit to pull the plug on social media service Parler highlighted the e-commerce giant's often-overlooked role in powering much of the Internet. Parler went offline late on Sunday after Amazon Web Services (AWS)suspended its account, a potentially crippling blow for the site favoured by right-wing extremists, some of whom advocated violence ahead of last week's riot at the US Capitol. In a letter to Parler seen by Bloomberg, Amazon said the company was unable to effectively keep calls for violence off its platform. The site on Monday sued Amazon, seeking to reverse the action and get back online. Social media companies and smartphone platforms are used to policing content on their sites. After disinformation campaigns marred the 2016 US presidential election, Facebook and Twitter hired thousands of content moderators, and in some cases sought the help of outside advisers, to develop policies and sort through issues, including political falsehoods and hate speech. But Amazon's move to cut off Parler is a reminder that the company wields huge influence over what is seen on the Internet. It is a power the Seattle company rarely uses. AWS, t...

Man accused of defacing a statue of Mary in church courtyard acquitted of all charges

aseanpr 12 1 月

2 minutes

SINGAPORE - A man accused of trespassing into the premises of the Church of the Nativity of the Blessed Virgin Mary last year and defacing a statue of Mary was acquitted of all charges in a district court on Monday (Jan 11). Race Koh Jun Xian, now 38, was handed a discharge amounting to an acquittal, which means he cannot be charged again with the same offences. The State Courts online portal did not disclose reasons behind his acquittal. Koh was charged on Nov 20 last year with one count of each of criminal trespass and defiling a place of worship with intent to insult a religion. He had earlier told the court: "I did not do this intentionally. I was sincere in wanting to pray to Mother Mary. I wanted to beautify her, I did not know this was an offence." He was then ordered to be remanded at the Institute of Mental Health. According to court documents, the church was closed to the public at the time of the offence on Nov 12 last year because of renovation works. Police received a report that same day that the statue in the courtyard of the Catholic church in Upper Serangoon Road had been defaced. Koh was identified after officers from Ang Mo Kio Police Division conducted ground in...

Pioneer gynaecologist, 104, receives honorary doctorate from NUS

aseanpr 12 1 月

5 minutes

SINGAPORE - Dr Oon Chiew Seng, one of Singapore's first obstetricians and gynaecologists, has received an honorary degree from the National University of Singapore (NUS) for her lifelong dedication to medical education and public service. Dr Oon also set up Singapore's first dementia home after she retired. On Tuesday (Jan 12), the 104-year-old was presented with an honorary Doctor of Letters degree by President Halimah Yacob, who is also the NUS Chancellor, at a ceremony held at the University Cultural Centre at NUS Kent Ridge Campus. NUS said in a press release that the honour was in recognition of Dr Oon's accomplishments as one of Singapore's pioneer obstetrics and gynaecology (O&G) practitioners, as well as for her contributions in women's health, anti-ageing science and dementia. Dr Oon, the youngest of 10 children, was born in Penang in 1916. She was a nurse in the 1930s. She then studied to become a doctor at King Edward VII Medical College in Singapore, a predecessor institution of NUS. She graduated in 1948. During World War II, she continued her studies in India, where she lived in a flat shared by four families with 16 children. Rainwater was constantly leaking through ...

Otterly delightful surprise for office workers in Penang Road

aseanpr 12 1 月

1 minute

SINGAPORE - Office workers at 9 Penang Road were surprised by some unexpected wildlife guests on Monday (Jan 11). A group of 13 smooth-coated otters were seen trooping through the building towards Fort Canning Park to the delight of their onlookers. Led by one adult, the frolicking family slowly made their way through the 24-hour link to Fort Canning Park. Otters have been spotted in various urban locations in Singapore, including the streets outside Mustafa Centre, a swimming pool of a condominium in Newton and Tan Tock Seng Hospital. In 2018, the relationship between Singapore and its otters was lauded by top international otter expert Nicole Duplaix as a role model for the world on co-existing with the animals. Dr Duplaix said that Singapore is unique because the number of otters that have settled in the country's urban environment is unheard of anywhere else in the world. More on this topic Related Story Otters are the latest exotic pet trend in Asia, but their rising popularity may be their undoing Related Story Have an otterly fun time at Otah's pop-up

S’pore firms must innovate to seize opportunities in electronics, manufacturing: Chan Chun Sing

aseanpr 12 1 月

5 minutes

SINGAPORE - Companies here need to continue to innovate for Singapore to successfully capture new economic opportunities in electronics and manufacturing created by advances in technology such as artificial intelligence (AI) and the Internet of Things (IoT). Making this call on Tuesday (Jan 12), Trade and Industry Minister Chan Chun Sing encouraged companies involved in the distribution of electronic components and in wholesale trade to "take bold steps... and chart new paths of growth through innovation". "We also need our local hardware technology start-ups to continually innovate and develop new technologies, participate in (Singapore's) growth and improve the resilience of our manufacturing sector," he said. Speaking at the official launch of the PlanetSpark Innovation Centre in Changi Business Park, Mr Chan cited two emerging global trends the Government is trying to address that companies can play a role in: the transformation of the electronics and advanced manufacturing sectors, and the growing need to improve the resilience of supply chains. On the first trend, he noted that the Covid-19 pandemic has accelerated efforts to digitalise and this will continue as companies see...

Covid-19 shows how scientists must collaborate to make breakthroughs, says DPM Heng

aseanpr 12 1 月

4 minutes

SINGAPORE -The fight against Covid-19 shows international collaboration is crucial if the world wants to continue making scientific breakthroughs, Deputy Prime Minister Heng Swee Keat told young scientists at a global virtual summit on Tuesday (Jan 12). He said sharing the virus genome with the global community had allowed various diagnostic test kits to be developed quickly and led to the creation of safe and effective vaccines in record time. "We must build on the positive momentum of collaboration in the fight against Covid-19 and redouble our efforts to work in stronger partnership - across disciplines, across borders, and across industries, academia and governments," he said in the pre-recorded opening address at the 2021 Global Young Scientists Summit. "This will allow us to not only overcome this pandemic, but also other global challenges such as poverty, ageing and climate change." The annual summit, which runs from Tuesday until Friday and is hosted by the National Research Foundation (NRF), will feature 21 globally recognised scientists and involve more than 500 young researchers from 30 countries. In his opening speech, Mr Heng - who is also the NRF's chairman - emphasis...

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